Morrisville, NC Cost of Living

Morrisville cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

A general overview of the cost of living index for Morrisville, NC is displayed above. In Morrisville, NC, the overall cost of living index is 112, which is 16% higher than the North Carolina average and 12% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Morrisville, NC, the city's goods and services are equal to the North Carolina average and equal to the U.S. average.

Did you know?

The cost of living in Morrisville is 16% higher than the North Carolina average.

The cost of living in Morrisville is 12% higher than the national average.

The cost of housing in Morrisville is 41% higher than the national average.

North Carolina general sales tax is 7% lower than the national average.

North Carolina state income tax is 159% higher than the national average.

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator allows you to compare how much your current salary in Morrisville, NC would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Morrisville, NC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Morrisville, NC salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$104,757

$8,730

$2,444

$3,143

Renters

$67,111

$5,593

$1,566

$2,014

One can approximate the cost of living and the housing affordability in Morrisville, NC by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Morrisville, NC have a median income of $104,757. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,444 per month to avoid calamity and poverty. The renters in the city have an income of about $67,111, which would make their monthly maximum allowable rental costs $1,566.

North Carolina Sales Tax

State

General Sales Tax

With Max Surtax

North Carolina

4.75%

7.5%

North Carolina Income Tax

State

Income Tax (Low)

Income Tax (High)

North Carolina

5.75%

5.75%

The North Carolina sales tax and North Carolina income tax rates should definitely be considered when determining the overall cost of living in Morrisville, NC. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The North Carolina sales tax is 4.75% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The North Carolina income tax rates range from 5.75% to 5.75%.

Goods & Services

Item

Morrisville

National avg.

Difference

Haircut

$18.57

$14.59

27.3%

Beauty Salon

$40.57

$34.68

17.0%

Toothpaste

$2.44

$2.47

1.3%

Shampoo

$1.01

$1.02

1.2%

Movie

$9.86

$9.87

0.1%

Bowling

$4.44

$4.39

1.1%

Groceries

Item

Morrisville

National avg.

Difference

Ground Beef

$4.69

$4.48

4.8%

Fried Chicken

$1.35

$1.46

7.8%

Milk

$2.50

$2.36

6.1%

Potatoes

$3.64

$3.06

18.9%

Pizza

$9.27

$9.24

0.3%

Beer

$8.62

$8.63

0.1%

Health Care

Item

Morrisville

National avg.

Difference

Optometrist

$98.75

$99.78

1.0%

Doctor

$95.79

$105.03

8.8%

Dentist

$98.29

$88.70

10.8%

Ibuprofen

$9.61

$9.41

2.1%

Lipitor

$258.40

$298.50

13.4%

Housing

Item

Morrisville

National avg.

Difference

Home Price

$268,500.00

$175,700.00

52.8%

Avg. Mortgage Payment

$797.74

$1,081.03

26.2%

Apartment Rent

$1,058.00

$920.00

15.0%

Transportation

Item

Morrisville

National avg.

Difference

Gasoline

$2.22

$2.09

6.3%

Tire Balancing

$35.50

$45.29

21.6%

Utilities

Item

Morrisville

National avg.

Difference

All Electricity

$147.80

$170.80

13.5%

Phone

$31.99

$28.26

13.2%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.